Standard&Poor's Ratings Services assigned its 'AA' rating to Jefferson Parish School Board, La.'s series 2015 limited-tax bonds. At the same time, Standard&Poor's affirmed its 'AA' rating on the school board's parity limited-tax bonds. The outlook is stable. The rating reflects our view of the board's: Participation in the New Orleans metropolitan statistical area's deep and diverse economy; Good resident income levels; Steadily growing and diverse property tax base; and Reliance on excess revenue for operations, thereby reducing the incentive to issue large amounts of parity debt. The rating is constrained by our opinion of the board's ability to dilute debt service coverage (DSC) to 1.35x MADS, in accordance with an additional bonds test. Bond proceeds will
